Perspective
Jun. 8, 2010
Going After a Guarantor Of a Real Property Loan
There are many minefields that a lender should be careful to avoid when filing a breach of guaranty action, writes Alan Petlak of Ballard Spahr.
With commercial real estate loan default rates continuing to rise and estimates that commercial property values in certain areas have declined as much as 40 percent since their 2007 peak, many commercial properties are underwater (i.e., the properties are worth less than their underlying loans). As a result, lenders, when they can, are increasingly looking to guarantors to recover the difference between the unpaid amount of the loan and ...
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